King Luther Capital Management Corp trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 2,787,991 shares of the biopharmaceutical company’s stock after selling 67,879 shares during the quarter. King Luther Capital Management Corp’s holdings in Pfizer were worth $99,531,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Shine Investment Advisory Services Inc. purchased a new stake in shares of Pfizer during the second quarter worth about $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Pfizer during the second quarter worth about $103,000. Herndon Capital Management LLC bought a new stake in Pfizer in the second quarter valued at about $120,000. Private Vista LLC increased its holdings in Pfizer by 2,277.3% in the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 190,933 shares during the last quarter. Finally, Lipe & Dalton increased its holdings in Pfizer by 6.9% in the second quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 300 shares during the last quarter. 70.12% of the stock is currently owned by institutional investors and hedge funds.
Pfizer Inc. (PFE) opened at $35.76 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a 52 week low of $31.67 and a 52 week high of $39.43. The company has a market capitalization of $213,150.00, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The company had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $13.67 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. Pfizer’s quarterly revenue was up .6% compared to the same quarter last year. equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.34 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Thursday, February 1st. Pfizer’s payout ratio is presently 38.64%.
Pfizer declared that its Board of Directors has approved a share buyback plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several analysts recently weighed in on PFE shares. Jefferies Group set a $39.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Thursday, October 26th. BMO Capital Markets set a $39.00 price objective on Pfizer and gave the company a “buy” rating in a report on Tuesday, October 31st. Berenberg Bank set a $36.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Tuesday, October 31st. UBS Group set a $38.00 price objective on Pfizer and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Goldman Sachs Group set a $36.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.45.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the transaction, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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